Chinese retailers are already offering pre-orders for the iPhone 5, according to a recent report from Reuters.
A website known as TaoBao is giving Apple fans the opportunity to reserve the device on a page that displays mock-up pictures and purported technical specifications for the new iPhone.
TaoBao is China's largest e-commerce platform, according to Reuters. It lists the new iPhone at an astronomical price of $8599.00.
A recent report from KGI Securities analyst Ming-Chi Kuo point to the new iPhone having thinner and improved front and rear cameras.
Kuo stated that the rear camera on the iPhone will remain at 8-megapixels, but its aperture will be increased from f/2.4 to f/2.2 in order to reduce camera module height by nearly 0.5 mm.
"A number of components have required a slim-down," said Kuo in his report. "The component that will undergo the most dramatic make-over is the rear camera. Our research shows that iPhone 5 will feature the first-ever slimmed rear camera of all iPhones, in an effort to deliver an ultra-slim iPhone 5."
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KGI's data also reveals some other specifications for the upcoming iPhone including the display that will measure 4.08-inches.
The length of the device will be 90.3mm while the width will be 50.9mm. The device will have a resolution of 1,136 x 640 with 320ppi, according to KGI.
The reports also state that the front-facing camera on the handset will be 720p-capable which means users will be able to use FaceTime in high-definition. The front camera is expected to be moved from the left side of the earpiece to the center making the iPhone's design more similar to the 4th generation iPod Touch.
The iPhone 5 is expected to be unveiled by Apple sometime in the fall.